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FHA home loans are among the easiest loans to qualify for. Instituted during the depression era of the 1930s, the Federal Housing Association since has helped tens of thousands of Americans to buy their first home, or move-up home, with a small down payment and very favorable rates and terms.
However, FHA loans are a [...]
In addition to the basic mortgage underwriting, processing and origination fees that are charged by a lender, there are several other costs associated with purchasing a new property.
Since every player on your real estate home buying team has a stake in your transaction, it’s a good idea to know how to budget for their services.
Common [...]
The difference between APR and actual note rate is very confusing, especially for First-Time Home Buyers who haven’t been through the entire closing process before.
When shopping for a new mortgage loan, you may notice an Annual Percentage Rate (APR) advertised next to the note rate. The inclusion of an APR is actually mandated by federal [...]
First Time Home Buyer FAQs are valuable in helping decide if it is the right time to buy a home in the Eugene Springfield Oregon area. This is the fifth in a six part series of questions and answers to help with that decision. Time is running out on the tax credit so I hope [...]
You’ve heard the expression “Once in a Blue Moon”. The definition means “very rarely; infrequently,Never” according to Wiktionary. You get the idea…a very rare event! What does that mean to Virginia FHA homebuyers?
Virginia FHA homebuyers have been experiencing that “Once in a Blue Moon” convergence of ideal circumstances when it comes to buying a home [...]
The High Loan limits for VA 100% financing offered to Orange County, CA VA eligible home buyers have been very advantageous in in 2009 and 2010. The 100% financing limit for VA loans in Orange County was lowered from $737,500 in 2009 to $593,750 in 2010. But still, there is currently no other type of financing [...]
As part of his job creation initiative, Governor Schwarzenegger will be signing into law an extension of the home buyer tax credit (up to $10,000) for residents of California. This tax credit is eligible to first time home buyers of the Inland Empire, Riverside, San Bernardino, Orange, San Diego, and Los Angeles counties who purchase [...]
Knowing what questions to ask your lender during or before the loan application process is essential for making your mortgage approval process as smooth as possible.
Many borrowers fail to ask the right questions during the mortgage pre-qualification process and end up getting frustrated or hurt because their expectations were not met.
Here are the top eight [...]
